AI Stocks Slide Again, Bitcoin Dips Near $100,000: What’s Moving Markets Thursday?
After a brief and cautious rebound on Wednesday, risk-off sentiment returned sharply on Thursday, with AI-linked stocks leading a broad selloff across Wall Street and renewed pressure hitting crypto markets.
Investors grappled with mixed corporate earnings and fresh concerns over the labor market after a private report showed a spike in layoffs last month. Despite clear signs of a cooling job market, comments from Federal Reserve officials dampened hopes for further rate cuts.
Chicago Fed President Austan Goolsbee said he remains hesitant to continue the easing cycle, while Cleveland Fed President Beth Hammack echoed that it’s “not obvious” the Fed should cut again given the current inflation backdrop.
The S&P 500 fell 1%, the Nasdaq 100 dropped 1.8%, and the Dow Jones Industrial Average lost 0.9%. All major sectors traded lower except energy.
In earnings news, Robinhood Markets Inc. (NASDAQ:HOOD) plunged nearly 10%, on track for its worst day since April, despite beating Wall Street expectations last quarter. The move extends a recent trend of strong results sparking weak price reactions among high-flying stocks such as Palantir Technologies Inc. (NYSE:PLTR) and Advanced Micro Devices Inc. (NASDAQ:AMD). Palantir slumped for a third straight session and is now down roughly 15% since Monday’s close.
QUALCOMM Inc. (NASDAQ:QCOM) also topped estimates but slid about 5% after management guided for slightly weaker licensing revenue ahead. Nvidia Corp. (NASDAQ:NVDA) dropped 3% after CEO Jensen Huang warned that the U.S. risks falling behind China in the AI race.
In crypto markets, Bitcoin (CRYPTO: BTC) fell 1.7% to around $101,000, resuming its decline after a short-lived pause. Ethereum (CRYPTO:
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